Foreign companies get 30 percent of Lithuania's defense budget, and 70 percent return to Lithuanian economy, according to National Defense Minister Raimundas Karoblis who introduced lawmakers last week to national defense funding figures for the next year.
© DELFI / Domantas Pipas

The major part of Lithuania's defense budget goes abroad to pay for arms and military equipment. And the lion's share of the amount staying in Lithuania is spent on personnel.

"Currently, the sums spent abroad are quite big as our arms producers have limited capacities. We try to cooperate with the local industry as much as possible for a major part of expenses to remain in Lithuania once major acquisitions are planned," Karoblis told the parliamentary Committee on National Security and Defense.

Lithuania's most expensive acquisition is german infantry fighting vehicles with Israeli-made turrets. The deal is valued at 386 million euros. Lithuania will also spend over 100 million euros on Norwegian medium-range air defense systems.

Lithuania's defense budget is set to grow 75 million euros to 948 million euros next year.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...